Hyderabad: Hyderabad-based Brightcom Group, an adtech company, signed a definitive share purchase agreement to acquire 100 per cent of Vuchi Media Private Limited, operating under the brand name of MediaMint, a digital marketing operations company. The acquisition will be for about Rs 566 crore in cash and stock.
As per the agreement, Rs 360 crore will be paid in cash at closing of the deal, Rs 170 crore in BCG stock, and Rs 36 crore to be paid in six months from closing.
Hyderabad-based Mediamint specialises in ad operations, campaign management, creative services, data analytics, platform support, dev ops and more. Its revenue for the FY22 March ending is expected to be Rs 187 crore.
After the acquisition, MediaMint will continue its growth trajectory serving its growing list of enterprises. MediaMint’s leadership team, including Neelima Marupuru, Anush Kumar, Jason Riback and Aashay Paradkar, will continue to help guide the rapid growth of the business. Aditya Vuchi, co-founder, will stay on for six months to ensure a smooth transition.
MediaMint employs over 1,300 employees, servicing reputed international clients such as Pinterest, New York Times, Netflix, Cox Automotive and Expedia.
“The acquisition enhances our M&A strategy by having a more robust backend support model to improve future targets’ operating efficiencies and expedite other synergy realisation efforts. The MediaMint acquisition will be immediately and meaningfully accretive to our earnings,” said Suresh Reddy, chairman, Brightcom Group.
Neelima Marupuru, co-founder, MediaMint said, “Brightcom’s history of developing and growing technology and operations business fits well with our ambition to expand the capabilities and access to talent in new regions.”
Tempus Legal is serving as the legal counsel and EY as exclusive financial advisor to Brightcom Group in this transaction. Sathguru Management Consultants acted as sole transaction consultant for MediaMint.
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